Oil and natural gas producer Apache Corp. on Thursday reported a profit for the second quarter that halved from last year on lower revenues. Apache said it plans to completely exit the Wheatstone LNG project in Australia and Kitimat LNG project in Canada. The company is also evaluating its international assets and exploring multiple opportunities for the assets.
Energy giant ConocoPhillips reported Thursday a profit for the second quarter that increased from last year, as higher realized prices and volumes improved revenues. Adjusted earnings per share topped analysts' expectations by a penny, but quarterly revenues missed their estimates. Meanwhile, total production grew from last year.
In the latest sign of the hyper-partisan environment that exists in Washington, the Republican-controlled House voted Wednesday evening to approve a resolution authorizing House Speaker John Boehner, R-Ohio, to sue President Barack Obama.
Hyatt Hotels Corp. on Thursday reported a 34 percent decline in profit for the second quarter from last year as higher revenues were more than offset by an increase in expenses. Adjusted earnings per share for the quarter beat analysts' expectations, while revenues missed their estimates.
Chicago-area business activity unexpectedly grew at a substantially slower rate in the month of July, according to a report released by MNI Indicators on Thursday, with the business barometer falling to its lowest level in a year.
Time Warner Cable, Inc. Thursday reported higher second-quarter profit, on growth in revenues driven by increases in high-speed data and voice subscribers, despite decline in video subscribers. Adjusted earnings as well as revenues missed analysts' expectations.
Satellite television company DirecTV Inc. on Thursday reported a 22 percent increase in profit for the second quarter from last year on higher revenues in the U.S. and strong subscriber growth in Latin America due to the FIFA World Cup. Both revenue and adjusted earnings per share for the quarter beat analysts' estimates.
Stocks have moved sharply lower in early trading on Thursday after ending the previous session mixed. The major averages have all shown notable moves to the downside, with the Dow and the S&P 500 falling to their lowest intraday levels in well over a month.
A report by the British House of Commons Defense Committee says that that NATO is not well prepared to face the new threat posed by Russia. Citing the recent events in Crimea and Eastern Ukraine, the British MPs said NATO failed to protect one of its allies from an attack by Russia. This should be a wake-up call for NATO and the UK, the report says, and called for "radical reforms." The Defense
Cereal maker Kellogg Co. reported Thursday that its second-quarter profit declined on one-time costs and weak performance by cereal segment. Adjusted earnings were in line with market estimates, while top line, which was nearly flat, missed its view. Further, the company trimmed its forecast for fiscal 2014 earnings and sales.
Mastercard, Inc. reported Thursday a profit for the second quarter that grew ten percent from last year, reflecting double-digit revenue growth as shoppers increasingly swiped credit cards to make payments instead of cash. Both earnings per share and quarterly revenues topped analysts' expectations.
Consumer goods giant Colgate-Palmolive Co. on Thursday reported an 11 percent increase in profit for the second quarter from last year, as flat sales were more than offset by higher margins and fewer charges. Adjusted earnings per share matched analysts' expectations, while quarterly revenues missed their estimates. The company affirmed its outlook for fiscal 2014.
First-time claims for U.S. unemployment benefits rebounded in the week ended July 26th, according to a report released by the Labor Department on Thursday, with initial jobless claims bouncing off the fourteen-year low seen in the previous week.
Discount-store operator Target Corp Thursday said its Board of Directors has appointed Beverages giant PepsiCo, Inc.'s executive Brian Cornell, 55, as the company's next chairman and chief executive officer, effective August 12. Cornell, the first CEO hired from outside, replaces John Mulligan, who was interim CEO since Gregg Steinhafel stepped down in the wake of a massive data breach.
Generic drugmaker Teva Pharmaceutical Industries Ltd. reported Thursday a profit for the second quarter compared to a loss from last year, which was weighed down by hefty legal settlements and loss contingencies. Adjusted earnings per share topped analysts' expectations, while quarterly revenues missed their estimates. The company also raised its earnings forecast for the full-year 2014.